Bill Text: FL S1208 | 2011 | Regular Session | Introduced


Bill Title: School to Work

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-05-07 - Indefinitely postponed and withdrawn from consideration [S1208 Detail]

Download: Florida-2011-S1208-Introduced.html
       Florida Senate - 2011                                    SB 1208
       
       
       
       By Senator Norman
       
       
       
       
       12-01081-11                                           20111208__
    1                        A bill to be entitled                      
    2         An act relating to school to work; creating s.
    3         1004.995, F.S.; establishing the Postsecondary School
    4         to-Work Program to be administered jointly by the
    5         State Board of Education, the Board of Governors, and
    6         the Department of Revenue; providing that a student
    7         participating in the program earns course credit at a
    8         career center, Florida College System institution, or
    9         state university while employed as an apprentice with
   10         a private business in his or her field of study;
   11         providing for a credit against the corporate income
   12         tax liability for a participating business; providing
   13         limitations; requiring the adoption of rules and
   14         regulations; amending s. 220.02, F.S.; adding a new
   15         tax credit to the list of corporate income tax
   16         credits; amending s. 220.13, F.S.; requiring addition
   17         of the amount of the tax credit for determination of
   18         adjusted federal income; providing an effective date.
   19  
   20  Be It Enacted by the Legislature of the State of Florida:
   21  
   22         Section 1. Section 1004.995, Florida Statutes, is created
   23  to read:
   24         1004.995 Postsecondary School-to-Work Program.—
   25         (1) The Postsecondary School-to-Work Program is established
   26  to be administered jointly by the State Board of Education, the
   27  Board of Governors, and the Department of Revenue. The program
   28  enables a postsecondary education student to earn course credit
   29  at a career center, a Florida College System institution, or a
   30  state university while employed as an apprentice with a private
   31  business in his or her field of study.
   32         (2) Participation in an apprenticeship offers the student a
   33  combination of on-the-job training and related classroom
   34  instruction in which a student learns the practical and
   35  theoretical aspects of an occupation.
   36         (3)(a) A business that hires an apprentice through the
   37  program benefits by training students to industry standards,
   38  filling current workforce needs, and preparing students for
   39  future workforce needs.
   40         (b) A business that participates in the program is eligible
   41  to earn a tax credit of 5 percent per apprentice up to 10
   42  percent for two apprentices against its corporate income tax
   43  liability.
   44         (4) The State Board of Education and the Department of
   45  Revenue shall adopt rules and the Board of Governors shall adopt
   46  regulations to administer this section.
   47         Section 2. Subsection (8) of section 220.02, Florida
   48  Statutes, is amended to read:
   49         220.02 Legislative intent.—
   50         (8) It is the intent of the Legislature that credits
   51  against either the corporate income tax or the franchise tax be
   52  applied in the following order: those enumerated in s. 631.828,
   53  those enumerated in s. 220.191, those enumerated in s. 220.181,
   54  those enumerated in s. 220.183, those enumerated in s. 220.182,
   55  those enumerated in s. 220.1895, those enumerated in s. 221.02,
   56  those enumerated in s. 220.184, those enumerated in s. 220.186,
   57  those enumerated in s. 220.1845, those enumerated in s. 220.19,
   58  those enumerated in s. 220.185, those enumerated in s. 220.1875,
   59  those enumerated in s. 220.192, those enumerated in s. 220.193,
   60  those enumerated in s. 288.9916, those enumerated in s.
   61  220.1899, and those enumerated in s. 220.1896, and those
   62  enumerated in s. 1004.995.
   63         Section 3. Paragraph (a) of subsection (1) of section
   64  220.13, Florida Statutes, is amended to read:
   65         220.13 “Adjusted federal income” defined.—
   66         (1) The term “adjusted federal income” means an amount
   67  equal to the taxpayer’s taxable income as defined in subsection
   68  (2), or such taxable income of more than one taxpayer as
   69  provided in s. 220.131, for the taxable year, adjusted as
   70  follows:
   71         (a) Additions.—There shall be added to such taxable income:
   72         1. The amount of any tax upon or measured by income,
   73  excluding taxes based on gross receipts or revenues, paid or
   74  accrued as a liability to the District of Columbia or any state
   75  of the United States which is deductible from gross income in
   76  the computation of taxable income for the taxable year.
   77         2. The amount of interest which is excluded from taxable
   78  income under s. 103(a) of the Internal Revenue Code or any other
   79  federal law, less the associated expenses disallowed in the
   80  computation of taxable income under s. 265 of the Internal
   81  Revenue Code or any other law, excluding 60 percent of any
   82  amounts included in alternative minimum taxable income, as
   83  defined in s. 55(b)(2) of the Internal Revenue Code, if the
   84  taxpayer pays tax under s. 220.11(3).
   85         3. In the case of a regulated investment company or real
   86  estate investment trust, an amount equal to the excess of the
   87  net long-term capital gain for the taxable year over the amount
   88  of the capital gain dividends attributable to the taxable year.
   89         4. That portion of the wages or salaries paid or incurred
   90  for the taxable year which is equal to the amount of the credit
   91  allowable for the taxable year under s. 220.181. This
   92  subparagraph shall expire on the date specified in s. 290.016
   93  for the expiration of the Florida Enterprise Zone Act.
   94         5. That portion of the ad valorem school taxes paid or
   95  incurred for the taxable year which is equal to the amount of
   96  the credit allowable for the taxable year under s. 220.182. This
   97  subparagraph shall expire on the date specified in s. 290.016
   98  for the expiration of the Florida Enterprise Zone Act.
   99         6. The amount of emergency excise tax paid or accrued as a
  100  liability to this state under chapter 221 which tax is
  101  deductible from gross income in the computation of taxable
  102  income for the taxable year.
  103         7. That portion of assessments to fund a guaranty
  104  association incurred for the taxable year which is equal to the
  105  amount of the credit allowable for the taxable year.
  106         8. In the case of a nonprofit corporation which holds a
  107  pari-mutuel permit and which is exempt from federal income tax
  108  as a farmers’ cooperative, an amount equal to the excess of the
  109  gross income attributable to the pari-mutuel operations over the
  110  attributable expenses for the taxable year.
  111         9. The amount taken as a credit for the taxable year under
  112  s. 220.1895.
  113         10. Up to nine percent of the eligible basis of any
  114  designated project which is equal to the credit allowable for
  115  the taxable year under s. 220.185.
  116         11. The amount taken as a credit for the taxable year under
  117  s. 220.1875. The addition in this subparagraph is intended to
  118  ensure that the same amount is not allowed for the tax purposes
  119  of this state as both a deduction from income and a credit
  120  against the tax. This addition is not intended to result in
  121  adding the same expense back to income more than once.
  122         12. The amount taken as a credit for the taxable year under
  123  s. 220.192.
  124         13. The amount taken as a credit for the taxable year under
  125  s. 220.193.
  126         14. Any portion of a qualified investment, as defined in s.
  127  288.9913, which is claimed as a deduction by the taxpayer and
  128  taken as a credit against income tax pursuant to s. 288.9916.
  129         15. The costs to acquire a tax credit pursuant to s.
  130  288.1254(5) that are deducted from or otherwise reduce federal
  131  taxable income for the taxable year.
  132         16. The amount taken as a credit for the taxable year under
  133  s. 1004.995.
  134         Section 4. This act shall take effect July 1, 2011.

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